ExxonMobil has sold-off its lubricants manufacturing and retail operations in Vietnam to Total, but will carry on supplying lubricants to ships.

“A sales agreement has been signed with Total for our lubricants and specialties businesses, but we will retain a supply presence in the country for ExxonMobil lubricants for the maritime industry,” Michael Smith, director of ExxonMobil's Vietnam operations told Bunkerworld on Friday.

The deal includes a lubricant blending plant in the southern Vietnamese province of Dong Nai and ExxonMobil’s base oil distribution network throughout the country.

Aside from the supply of marine lubes, ExxonMobil will also continue oil exploration operations in the developing nation.

Players told Bunkerworld that ExxonMobil looked for return on investment, within a specific time-frame, in each of the country where it operated and where a project did not give the returns expected, the company did not hesitate to exit.

According to analysts however, Total is looking to expand continuously, with a primary focus on Western Europe along with the French-speaking nations of Africa.

Total did not have a signifcant presence in Vietnam prior to this ExxonMobil deal, but analysts believe the acquisition would help them grow their market share in the region “immensely”.

According to the ExxonMobil website, its Vietnam operations primarily manufactures and markets ExxonMobil lubricants.